At Brady Technologies, we are proud of our role in enabling the global shift to low-carbon electricity. Energy market participants across Europe are significantly reducing their CO2 emissions using our software to optimise energy production, manage emissions certificates, and enable renewable energy transactions. In this article, we showcase the low carbon activities facilitated by our software and highlight Brady Technologies’ contribution to over 70 million tonnes of annual CO2 savings, underlining our commitment to lowering carbon intensity in electricity grids and enabling the transition to a more sustainable energy future.
Market context
Energy in the form of electricity can originate from a variety of sources. Some of these sources result in the production of low or zero carbon electricity, such as those derived from wind power, and some involve the formation and release of carbon dioxide into the atmosphere, such as electricity generated by burning fossil fuels.
At Brady Technologies, we have a natural synergy with low-carbon electricity generation. Our suite of software solutions enables energy market participants to optimise their energy production and usage, resulting in a more efficient deployment of green energy sources as part of the generation mix. The efficiency which we enable in the energy markets reduces the average carbon intensity of the grid areas in which our customers operate.
Brady software also facilitates the trading and management of emissions certificates – instruments which exist to better capture the environmental consequences of polluting activities, as well as certificates of origin, which help to more accurately value energy which has been generated from a low-carbon source. In the Nordic region, our software is being used to manage exceptional volumes of renewables generated electricity and we are also taking an active role in enabling the decarbonisation of the Irish Grid.
To summarise, our studies show that Brady Technologies software is helping to deliver over 70 million tonnes of CO2 savings per year, by enabling low-carbon-intensity power flows, and through direct involvement in low carbon energy trading.
Case studies
Impact on short-term power trading markets
As power markets progress towards decarbonisation, intermittency creates the need for flexibility. Traders managing wind farms are exposed to volatility that demands trading acumen akin to scheduling batteries to mitigate fluctuations in renewable energy output.
Short-term flexibility trading is one of the fastest growing areas of energy trading. Vendors are offering trader position dashboards, direct market access from position reporting and differing levels of automation.
In response this market demand, we have developed the PowerDesk software solution suite. Our award-winning SaaS short-term power trader’s dashboard ‘PowerDesk’ is already being used in GB, France, Belgium, Netherlands, Germany, Norway, Sweden and Finland to optimise assets.
The PowerDesk suite is expected to enable utilities and other power producers and traders to displace around 25 Mte CO2 per year.
Impact on European interconnector trading, power scheduling and balancing
Interconnectors have an important role to play in how we produce and use energy. Between 2020 and 2030, GB’s National Grid estimates interconnectors will help Britain prevent 100 million tonnes of carbon emissions (i.e. 10Mte/year). By moving zero-carbon energy from where it’s produced to where it’s needed most, interconnectors help to reduce carbon emissions to reach net zero*.
Brady’s PowerDesk Scheduler and PowerDesk Balancer solutions support both interconnector trading and position nomination across 30+ European markets. In the 10 years to 2030, it is estimated that these two Brady products will help reduce emissions by 20 Mte of CO2.
Impact on longer-term trading
Longer term trading is more established than the fast growing short-term power trading space. The new impacts of decarbonisation (volatility and stability) affect short-term balancing and the physical operation of energy grids.
However, to ensure that the value of low carbon energy can be captured, certificates have been traded for over a decade. Certificates might include EUAs* as well as ROCs (Renewable Obligation Certificates) or GoOs (Guarantees of Origin).
For physical asset operators and traders to manage their exposure to requirements for green energy and carbon usage, it is essential that emissions and certificates are well managed in an ETRM solution.
Brady’s ETRM solution is at the forefront of green trading, making significant strides in supporting market changes such as long-term green certificates with flexible transfer dates. It supports MWh as a quantity unit (power is traditionally traded in MWs), aligning with market standards for certificate trading, and provides exposure and risk calculations for green contracts. These enhancements are designed to support our customers’ growing green businesses and make trading-green smoother and quicker.
Impact on Nordic energy markets
Our Nordic customers are generators and traders of some of the cleanest electricity in the world. Brady’s ETRM solution facilitates their ability to balance their power generation and supply on both the forward and the prompt markets. Without such a solution in place, they would not be able to accurately monitor and balance their clean energy portfolios.
Brady’s PowerDesk Data Manager solution is central to the operations and delivery of many of the major (and smaller) Nordic energy firms. From meter data collection, to Transmission System Operator communications and trade capture, this solution is central to the delivery of low carbon energy, in a region renowned globally for advancing the energy transition.
Conclusion
Our research initiatives and product roadmaps underline our commitment to enabling the green transition for our customers for a more sustainable energy future for all. Explore our product suite to learn how we can help your organisation meet decarbonisation targets at scale.
References
*Source: ourworldindata.org Norway 2022 29g/kWh
**Source: ourworldindata.org 2000 619g/kWh 2022 346g/kWh
* A European Union Allowance (EUA) is the official name for Europe’s emission allowances, which in 2008 was defined as the official Kyoto allowance for countries in the EU. One EUA entitles the holder to emit one ton of carbon dioxide or carbon-equivalent greenhouse gas.
